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118 NW 24th St, Miami, FL 33127
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118 NW 24th St, Miami, FL 33127
118 NW 24th St, Miami, FL 33127
118 NW 24th St, Miami, FL 33127
118 NW 24th St, Miami, FL 33127
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Alex Mendel

Alex Mendel

+1(561) 827-8449
$ 3,390,000
Est. payment /mo
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118 NW 24th St Miami, FL 33127

7,492 Sqft Lot

UPDATED:

Key Details

Property Type Vacant Land

Sub Type Commercial

Listing Status Active

Purchase Type For Sale

Subdivision Marks Sub

MLS Listing ID A12056960

HOA Y/N No

Annual Tax Amount $56,717

Tax Year 2025

Lot Size 7,492 Sqft

Acres 0.172

Lot Dimensions 50x150

Property Sub-Type Commercial

Property Description

7,500 SF lot to Build up to 20,000 SF with no parking requirement, according to the City of Miami Building Department for projects of 20,000 SF or less. The site allows for a five-story mixed-use building featuring 24 residential units above a 4,000-3,600 SF ground-floor retail or restaurant space. The commercial space can be leased to generate a stable NNN (Triple Net) income stream, creating an additional revenue source while maximizing the property's long-term investment potential.
This land - multifamily in the heart of Miami's iconic Wynwood Arts District featuring eight fully leased studio apartments generates steady in-place income of approximately $12,400 per month, making it a strong holding option while exploring future redevelopment. Zoned T5-O/NRD-1.

The property benefits from its proximity to major lifestyle and employment hubs, including the Miami Design District, Midtown, Allapattah, and Downtown Miami, all within minutes. Immediate access to key transportation routes ensures connectivity across Greater Miami, and the neighborhood's walkability supports its thriving cultural, culinary, and retail environment. Investors can leverage Wynwood's upward trajectory for appreciation while benefiting from dependable short-term cash flow. This is a compelling opportunity to control an income-producing asset with significant redevelopment potential in one of Miami's most dynamic corridors.

Location

State FL

County Miami-dade

Community Marks Sub

Area 30

Exterior

Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Trash Collection, Water Available

Present Use Other

Private Pool Yes

Building

Sewer Public Sewer

Water Public

Others

Tax ID 01-31-25-037-0420

Virtual Tour https://www.propertypanorama.com/instaview/mia/A12056960

Miami Association of Realtors (SEFMIAMI MLS)
Listed by IRG

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Alex Mendel

Alex Mendel

Agent

+1(561) 827-8449

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118 NW 24th St

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